The 4 hour chart of the S&P futures shown below updates the short term Elliott Wave count that I have been tracking for the past week or so. Wave counts on short term charts are always especially speculative, but taking this one at face value, a further sequence of down-up-down-up-down is needed before the impulsive decline from the September high can be counted as complete. Currently 1925.6 is the key upside level that must be beaten to invalidate the count (purple 4 would overlap 1), and thereby raise the possibility that a short term bottom is in. Failing a rally above 1925.6, expect more volatility and a test of 1800. Most importantly, keep an eye on the big picture, which I believe has the market embarking on a 60%+ decline toward 600 points.